KuCoin, one of the leading centralized cryptocurrency exchanges, has announced its latest addition to the roster of supported digital assets – Root Network (ROOT). This move underlines KuCoin’s commitment to expanding the range of tradable assets on its platform. The official announcement was made on KuCoin’s blog and the X platform (formerly known as Twitter) on Monday, November 20.
Deposits for ROOT tokens now open
Investors in Root Network can now swiftly deposit their ROOT tokens onto KuCoin’s trading platform. KuCoin has specified that it will only accept ROOT deposits through Ethereum’s ERC20 network. This decision ensures compatibility and a seamless experience for ROOT token holders looking to trade on the platform.
KuCoin has outlined a clear schedule for the trading and withdrawal of ROOT tokens. Trading for the ROOT/USDT trading pair will commence on November 21, offering users an opportunity to engage in this new market. However, the withdrawal of ROOT tokens will officially begin on the following day, November 22.
ROOT/USDT trading pair
The trading pair available for ROOT on KuCoin’s spot platform is ROOT/USDT, where USDT represents Tether, a widely used stablecoin in the cryptocurrency space. This pairing allows traders to easily buy and sell ROOT tokens with a stable value reference.
KuCoin has issued a cautionary note regarding the withdrawal of ROOT tokens. Users are advised to use an ERC20 wallet for their withdrawals and not their FuturePass address. This guidance is crucial to ensure the smooth and secure transfer of ROOT tokens from the KuCoin platform.
Root network: Powering the open Metaverse
Root Network is a unique Layer One solution designed to serve as the central hub for the emerging open metaverse. Its primary objective is to facilitate connections between various entities within the metaverse, promoting a seamless and interconnected user experience.
The network incorporates core user experience (UX) and digital content-focused protocols, aiming to enhance asset interoperability and user engagement across the open metaverse landscape.
Root Network joins a growing list of cryptocurrency projects supported by KuCoin. The exchange has demonstrated its commitment to fostering innovation in the crypto space by listing projects like Shrapnel (SHRAP), Atem Network, and KlubCoin (KLUB). This support not only provides exposure to these projects but also enhances liquidity and trading options for KuCoin’s user base.
Source: https://www.cryptopolitan.com/kucoin-addition-of-root-network-root-token/